Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Danville | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,288,172 | $642,203 | $242,182 |
| Price Trend (Annual %) | 11.2% | 10.0% | 8.2% |
| Median Gross Rent | $3,500 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.1% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Danville is about 101% higher than in California. Rent is about 79% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Danville, up about 11.2% and 6.1% a year respectively. Home prices are changing faster.
Median rent in Danville rose about 51.1% between 2015 and 2023, from $2,317 to $3,500. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 6.4 yearly household incomes in Danville.
Buying the median-priced home in Danville costs roughly 30.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Danville. The price-to-rent ratio in California is about 27.4.
| Metric | Danville | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,288,172 | $642,203 | $242,182 |
| Median Household Income | $200,000 | $96,718 | $78,145 |
| Price-to-Income Ratio | 6.4 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Danville rose about 84.6%, while median household income rose about 101.9% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Danville | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 82.1% | 51.6% | 58.2% |
| Rental Rate | 15.8% | 40.9% | 31.3% |
| Vacancy Rate | 2.2% | 7.6% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Danville has a homeownership rate of 82.1%, higher than the California average of 51.6%. Its housing vacancy rate is 2.2%, compared with 7.6% in California.
Housing Stock
| Metric | Danville | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.83 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1980 | 1975 | 1978 |
| Median Number of Rooms | 7.1 | 5.0 | 5.5 |
The typical housing unit in Danville was built around 1980. On average, 2.8 people live in a home with about 7.1 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Danville, California.
What is the median home price in Danville, California?
The median home price in Danville, California is $1,288,172, higher than the California average of $642,203.
What is the average home price in Danville, California?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Danville, California?
The median gross rent in Danville, California is $3,500 per month, higher than the California average of $1,955.
What was the median gross rent in Danville in 2020?
In 2020, the median gross rent in Danville, California was $2,541 per month.
What is the price-to-rent ratio in Danville, California?
The price-to-rent ratio in Danville, California is about 30.7, meaning it would take roughly 30.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Danville.
Are home prices or rent rising faster in Danville, California?
Both home prices and rent are rising in Danville, up about 11.2% and 6.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Danville, California?
82.1% of households in Danville, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Danville, California?
The housing vacancy rate in Danville, California is 2.2%, lower than the California average of 7.6%.